Leejam Sports prepares to float 30% of capital on Tadawul

09/07/2018 Argaam

 

Riyadh-based gym operator Leejam Sports Co. will float 30 percent of its capital in an initial public offering (IPO) on Tadawul as of August 1, IPO manager Samba Capital said.

 

The book-building period for participating investors will last for nine days between July 17 and July 24. Share price ranges between SAR 45 to 52 per share.

 

The IPO targets two tranches:

 

Institutional tranche: It includes all the categories that are entitled to participate in bidding and book-building period. It has 100 percent (15.72 million shares) of total offering size, subject to a scale back to 90 percent (14.14 million shares).

 

Retail tranche: It includes the Saudi individuals and gulf investors. Up to 10% of total offering size (1.57 million shares) will be allocated for such tranche.

 

Saudi Arabia’s Capital Market Authority (CMA) has already approved the flotation of a 30 percent shareholding (15.72 million shares) of Leejam.

 

Leejam is the largest fitness center operator in Saudi Arabia that operates under the brand “Fitness Time.”

 

IPO Summary

Company’s name

Leejam Sports Co.

Number of shares offered

15.715 mln shares

IPO Price

SAR 45-52 per share

IPO size

SAR 707.2-817.2 mln

Key conditions

Institutional tranche: 100% (15.715 mln shares) of total offering size, subject to a scale back to 90% Retail tranche: Up to 10% of total offering size (1.571shares)

IPO Period

Seven days starting from Wednesday, August 1, 2018, until the end of Tuesday, August 7, 2018

Bidding and book building period

Nine days starting from Monday, Juy 16, 2018, until the end of Tuesday, July 24, 2018

Deadline for submission of Subscription Application Forms (institutions)

Sunday, July 29, 2018

Deadline for payment of the subscription fees (institutions)

Sunday, August 5, 2018

Deadline for submission of Subscription Application Forms (Individual Investors)

Tuesday, August 7, 2018

Final Offer Shares allotment

Tuesday, August 14, 2018

Refund of excess subscription fees (if any)

Tuesday, August 14, 2018

Expected trading commencement date

After completing all relevant legal requirements and procedures

 

Income Statement (SAR mln)

Item

2016

2017

Variation

Revenue

700.9

732.8

+5%

Net Profit

203.1

174.2

(14%)

Average number of shares (mln share)

52.38

52.38

--

EPS (SAR/share)

3.88

3.33

(14%)

 

Revenue & Net Profit (SAR mln)

Item

2015

2016

2017

Revenue

594.8

700.9

732.8

Net Profit

182.4

203.1

174.2

Average number of shares (mln share)

52.38

52.38

52.38

EPS (SAR/share)

3.48

3.88

3.33

 

Balance Sheet (SAR mln)

Item

2015

2016

2017

Cash & cash equivalent

57.2

111.6

73.0

Current assets

159.3

201.0

201.0

Non-current assets

890.6

1155.4

1303.9

Total assets

1049.9

1356.4

1504.9

Short-term loans

62.9

84.3

76.5

liabilities

377.2

411.4

432.8

Long-term loans

217.0

357.4

366.2

Non-current liablities

229.6

421.2

443.2

Total liabilities

606.9

832.6

876.0

Capital

195.0

195.0

523.8

Shareholders’ equity

443.0

523.8

628.9

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